ENGLISH PORK MARKET.

Shannon News, 27 May 1927, Page 2

ENGLISH PORK MARKET.

UNSATISFACTORY RETURNS. Owing to the London market being glutted with pork, unsatisfactory prices were obtained for export parcels 7,8, 10, 10a, 11 and 13 for porkers forwarded by the North Island Pig Co-opera-tion. Unfortunately these returns disclose a deficit on the amount advanced. This position is explained by the chairman of the executive in a covering letter ,wjth the, returns. The report states these shipments of porkers arrived on the Home market at the time a sudden slump in values occurred with the consequence that stocks quickly accumulated. The executive instructed their brokers to meet a first loss rather than incur mounting storage charges in face of the accumulation and the fact that the demand for porkers ends with the approach of the English summer. ? It is most disappointing that such circumstances should have arisen at the commencement of an earnest endeavour by local dairy companies to organise an export trade for the pork industry, There is, however, one redeeming feature of the enterprise inasmuch that it has maintained the local price for porkers and/ baeoneks. Unquestionably, the local prices would ave.been considerably lower had there been no organisation of this nature. It is pointed out that 40,000 pigs were exported from New Zealand up to the end of February and that fact alone must have had. a stabilising effect upon the local market, as the total. consumption of the Dominion is 90,000 carcases per annum, and the requirements of the local trade are already over-supplied-Had the pigs exported been also thrown on to the Dominion market, the result is difficult to forecast. The experience of the exporters this year suggests that some price equalisation scheme as between the suppliers of the local market and the exporters would be fair and just, and no doubt this will have the consideration of the Executive.

Those of the fsmpany’s suppliers who have consigned through the export scheme have be«n or will be communicated with individually with regard to the over advance on their consignment of porkers.